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Kalahari Unveils High-Volume, Real-Time Bond and Asset Swap Portfolio Pricing System

-- ICAP Hong Kong sign’s up as the first customer for the new system, enabling the company’s traders to simultaneously calculate up to 200 asset swaps in real-time --

Global . 1st September, 2004. Kalahari, a global provider of real-time price discovery and analytic solutions to financial and energy trading institutions in over 15 countries, today announced the introduction of a real-time Bond and Asset swap portfolio pricing system.

Currently, an institution’s traders’ are often only able to price one bond at a time using their asset swaps screen, which provides only a snapshot. With Kalahari’s new bonds pricing system, traders have the ability to price up to 200 bonds and asset swaps simultaneously, and in real-time. Additionally, using Kalahari’s new system, each bond priced can be spread against a benchmark government bond of the traders’ choice.

The introduction of this new system builds on Kalahari’s successful flagship pricing and analytics solution, kACE. It also supports Kalahari’s objective of maintaining its market leading position in the provision of price discovery and analytics for the global financial markets.

The Hong Kong office of ICAP, theICAP world’s largest inter-dealer broker, has become the first customer to sign up for this system, with a number of other global customers ready to follow in due course.

Commenting on the new service, David Wright, Asia Bond Broker at ICAP Hong Kong said: "Our problem has been the time it takes to price up over 200 hundred Asian Yankee/Euro bond issues. If the market moves we have to re-price. With Kalahari’s new system, each user can have up to 200 different issues pricing in real-time. This means we can service our clients more efficiently."

ICAP is using kACE in several of its trading operations around the world, including London, Hong Kong, Singapore, Sydney, New York, Frankfurt, Copenhagen and Bahrain.

"Our new system provides the global banking and brokerage community with a reliable and much more efficient solution for pricing multiple asset swaps," said Graham Mansfield, global sales director for Kalahari. "Kalahari has forged a unique position within the financial services industry with our flagship price discovery and analytics solution, kACE. We provide instant access to real-time pricing of financial data — and the ability to act on it." He continued.

kACE offers customers the flexibility of selecting from a series of pre-built pricing screens, or provide the option of configuring their own using the in-built designer. Prices and calculations will be shared across an institution’s network, allowing data to be analysed in various dimensions, enabling their traders to slice and dice the data, to meet their specific needs, at any time.

kACE is the industry’s leading real-time price discovery, analytics and decision support solution designed for enterprise-wide use at broking firms, banks, energy/utility firms and other financial institutions and corporations. kACE has been designed with flexibility in mind, and allows bespoke design for each customer and individual end-user requirements. With over 1600 calculations embedded in the system from the best maths library experts in the industry, along with Kalahari's own libraries, kACE is capable of pricing the most complex financial instruments currently traded within the financial markets. kACE captures real-time data from a number of diverse sources and massages that data into a common, useable format.